China-based broadcasting company Hubei Radio & Television Information Network (HRTN) and US-based investment firm Dragon Gate Investment Partners launched a new fund on Tuesday aimed at US-based startups.
The fund will seek out startups hoping to expand internationally. Details of the size of the fund or of the investments it plans to make have not been disclosed.
HRTN operates in the Chinese province of Hubei where it offers a range of television and broadband services. The company also provides a video surveillance monitoring management platform and community network supervision technology.
Dragon Gate focuses its investments on companies in the US and China, helping them to tackle both respective markets and to grow internationally.
Qiyang Wang, chairman of Hubei Radio & Television Information Network, said: “Our partnership with Dragon Gate Investment Partners will allow us to invest in US startups.
“Thanks to Dragon Gate’s invaluable experience in global business solution and startup investment, we can now provide not only the money, but the possibility to grow in the international market.”